Induction route re-bar prices went up in the range of INR 100-600/t in many major markets on 10 Sept’21, SteelMint assessment shows. In Mumbai sellers did not open offers owing to Ganesh Chaturthi festival, while other markets too remained in holiday mood which impacted demand and spot trading. Strengthening semi-finished steel prices supported manufacturers to increase prices despite limited buying enquiries and trading. Prices on a daily basis are expected to remain supported or fluctuate depending on steel billet price movements.
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